Life Insurance Canada News Archives

5 Must-Know Scenarios When Mortgage Insurance is Actually Better Than Traditional Insurance

Introduction: Mortgage Insurance vs Traditional Insurance It’s now broadly understood that mortgage insurance is an insurance product that often primarily benefits financial institutions. Many consumers buy it in the heat of the moment, feeling compelled to protect a large real estate asset like a home, without conducting a deep financial analysis of how this insurance...

Eight Hidden Traps in No Medical Life Insurance You Should Know About

Introduction into No Medical Life Insurance: No medical life insurance products are designed for individuals who want to avoid the traditional underwriting process, which typically includes a medical exam. While these policies provide an attractive option for those with health concerns or those who prefer a quicker, hassle-free application process, they come with higher premiums and...

Denied Life Insurance: 22 Reasons and Solutions

Introduction: For some people, obtaining life insuranceis not straightforward. Health conditions, lifestyle choices, and other factors heavily influence whether an insurance company considers you a suitable candidate. While it may be tempting to withhold or falsify information on your application, this approach backfires in the long run. Even if it initially leads to an attractive...

10 Insider Secrets to Lower Your Critical Illness Insurance Rates

Unlock Savings: 10 Insider Secrets to Lower Your Critical Illness Insurance Premiums Background: Critical Illness insurance is one of the most misunderstood forms of coverage, yet it provides vital financial protection. Unlike other types of insurance, Critical Illness insurance offers a lump sum payment upon diagnosis of specific illnesses. You can use this payout however...

20 Ways to Save Big on Life Insurance | Experts explain

Introduction Life insurance is a critical component of comprehensive financial planning, offering essential protection for individuals and families. However, it can also be a complex product, with various types and features (e.g. term life insurance, whole life insurance, no medical life insurance) that can impact both coverage and costs. Given its long-term nature, the savings...

Do CPP and OAS Bridge the Retirement Gap? Discover What More You Can Do

Retirement and Financial Challenges Despite soaring costs in Canada, particularly in real estate, the incomes of Canadians have not kept pace with the increased cost of living. Both average and median incomes have grown at a slower rate than the consumer price index (CPI). From 1980 to 2022, the average and median salaries increased by...

Top 55 Canadian Personal Finance Blogs: The Ultimate List

Personal finance blogs have been offering insightful tips and financial advice to Canadians for years, some for decades. So, we have compiled for you a list of the top 55 personal finance blogs. This list does not include big corporate blogs of financial institutions or insurance companies, though we recognize that many of them offer...

Critical Illness Insurance – What Does it Cover?

What Does Critical Illness Insurance Cover? Critical illness insurance is a unique type of policy that provides you with a lump sum payment if you are diagnosed with specific illnesses. You have the freedom to use this lump sum however you choose, whether for medical treatment or other personal expenses. It’s important to note that...

How Much Money Do You Need to Retire in Canada? | A Detailed Analysis

Background: What Drives Financial Concerns Around Retirement? Despite soaring costs in Canada, especially on the real estate side, the incomes of Canadians have not grown fast enough to keep pace with the increased cost of living. Both average and median incomes have not climbed as quickly as the consumer price index (CPI). This means, the...

Critical Illness Insurance for Business Owners | Ultimate Guide and Costs

Why Business Owners Need Critical Illness Insurance Business owners often plan for the death of key persons or the succession of retiring founders, but many overlook a very important piece of the puzzle – what happens if a key person or owner is critically injured but does not pass away? This person is unable to...

5 Technology Trends that are Impacting Insurance in 2024

The insurance industry is known for being conservative when it comes to adoption of technology. However, this trend is currently changing for more and more insurance companies. Today we are getting perspectives from several experts who are deeply involved in insurance tech. They share their thoughts with respect to life insurance and technology. Alexey Saltykov...

2024 Canadian Life Insurance Industry Outlook: Expert Opinions

Background: As we approach the end of the year, it’s a time of reflection and planning for many individuals and organizations. Among the many considerations that people grapple with, one that often rises to the top is the need to reassess life insurance. This period presents an opportune moment for people and businesses to review...